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Global markets mostly lower ... Trump’s health subsidy shutdown could lead to free insurance ... $1,000 bagel back in NYC

October 19, 2017

SEOUL, South Korea (AP) — Global markets have been mostly lower today with Europe opening lower. Data shows that China’s quarterly growth slowed slightly but is in line with expectations. In Europe, Britain’s FTSE 100 is down 0.3 percent, France’s CAC 40 is down 0.5 percent and Germany’s DAX is down 0.5 percent. Asian markets finished mostly weaker. Futures suggest that Wall Street is headed for a lower start.

WASHINGTON (AP) — If President Donald Trump succeeds in shutting down a major “Obamacare” subsidy, it would have the unintended consequence of making free basic insurance available to more people, and making upper-tier plans more affordable. That’s the conclusion from consultants, policy experts and state officials. Such an outcome could entice more consumers to sign up for coverage next year though Trump says the Affordable Care Act is “virtually dead.” What’s driving the odd result? Another subsidy would go up.

SEOUL, South Korea (AP) — LG Electronics says it will work with Qualcomm to jointly research and develop autonomous driving technologies. LG says it and the U.S. chipmaker have opened a joint research center in Seoul and will open another one in Seoul by the end of 2018. Their research will focus on developing the fifth-generation wireless technology known as 5G, which could deliver data at a much faster speed than the current wireless technology and is seen as crucial for autonomous vehicles.

CANBERRA, Australia (AP) — The Australian auto manufacturing era is about to end after more than 90 years when General Motors’ last Holden sedan rolls off the production line in the industrial city of Adelaide on Friday. GM Holden Ltd. is the last of an array of carmakers that once included Ford, Toyota, Nissan, Mitsubishi, Chrysler and Leyland to abandon Australia in recent decades.

NEW YORK (AP) — New Yorkers with a taste for an expensive city staple will have an opportunity to try the $1,000 bagel when it returns to the city next month. The Westin New York hotel in Times Square says it’s bringing back the extravagant bagel for a limited time after it first appeared in 2007. WNBC-TV reports that what makes the bagel so expensive are Alba white truffle cream cheese, goji berry-infused Riesling jelly and golden leaf flakes. The hotel says white truffle is the second most expensive food in the world after caviar.

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